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There are only a few Chinese entrepreneurs who became headline stories both in China and abroad at the same time, Liang Wengen is one of them. The reason that he became the focus of the news is his unreserved desire to become entitled to the same beneficial treatments those running state-owned enterprises enjoy. Liang’s efforts in seeking this could be seen in his going all out to join the rank of CPC Central Committee members and his suing the Obama administration for imposing a ban on his wind farms that would situate within or in the vicinity of restricted air space at a naval weapons systems training facility.

Recently, foreign financial institutions have been issuing warnings on Chinese economy, in particular the risks of its financial sector.

Warning Signs of the Chinese Economy

Goldman Sachs have always been highly positive about the Chinese economy. In their newly published macro-economic report, however, the Chinese economy has been included in the three major risk factors that affect the world's economy. By “three risk factors” they meant the Europe debt crisis, the sluggish U.S. economy and the “hard-landing” risk of the Chinese economy. Goldman Sachs pointed out that, compared to the other two factors—the U.S. economy is improving, the Europe debt issue is calmed somewhat at the moment, China's economic growth would be the one major uncertainty.

“Anti-corruption” has become the number one buzzword in China over the last few weeks. Every day, there are reports about communist officials at various levels being investigated. Led by Xi Jinping, the new regime leadership has promised to deal with corruption among officials. This new round of the anti-corruption campaign has aspects that may lead Chinese people to realize they live in a chaotic society that has almost completely lost its morality.

Since taking office as General Secretary of the Communist Party of China (CPC), Xi Jinping has given three speeches to outline three paths to rebuild the CPC’s political legitimacy. In addition to the “bread path” and the “anti-corruption path,” Xi also pledged a “great renewal of the Chinese nation.”

Throughout history, the renewal of a nation has depended on two factors: support from the general public and abundant material resources. Today’s China, however, seriously lacks both of these.

The disclosure of obscene video footage of official Lei Zhengfu has sparked off some debates in China. Apart from the argument about “anti-corruption and privacy protection”, whichever is more important; there is also another argument about whether Ji Xuguang, the person who brought the video footage to light, is a good man or a bad one.